Louisiana law only permits foreclosures to occur through the judicial system. However, there are two forms of judicial foreclosure in Louisiana. Some mortgage documents contain a confession of judgment provision which means that the borrower agrees that a foreclosure sale should take place if the borrower defaults on the loan. If there is no confession of judgment provision in the mortgage documents then the foreclosure is contested. In either case, the lender must have court permission before proceeding to a foreclosure sale and must follow the rules set in the loan agreements, in state law or by the court in providing public notice about the sale and conducting the sale.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.